Bitcoin (BTC) continued its steady upward trend over the past 24 hours, briefly touching $98,000 for the first time in nearly two months. Alongside this move, BTC’s dominance over the broader crypto market has increased, as most altcoins struggled to extend their recent rallies. Even so, Ethereum (ETH) remains strong above $3,350 and appears poised for a push toward $3,400.
BTC Dominance Strengthens
Following last week’s rally that lifted Bitcoin from below $90,000 to nearly $95,000, the momentum stalled and prices briefly dipped. Bulls quickly stepped in, however, defending the $90,000 level and setting the stage for another breakout attempt.
After several failed tries around $92,000, BTC finally reclaimed that level on Tuesday and surged to $96,500. Sellers briefly forced a pullback to below $94,500, but the recovery was swift. By Wednesday evening, Bitcoin jumped sharply once more, reaching $98,000 for the first time since mid-November—despite rising geopolitical tensions. While it failed to hold that level, BTC is currently trading near $97,000, up 2.2% on the day.
Bitcoin’s market capitalization has climbed to $1.94 trillion, while its market dominance has increased to 57.5%.
Ethereum Pushes Higher
Ethereum also posted gains, though at a slower pace than Bitcoin. ETH is up around 1% on the day, holding above $3,350, with expectations building for a move toward—and potentially above—$3,400.
Elsewhere, BNB, TRX, XMR, and BCH posted modest gains, while XRP, DOGE, ADA, LINK, and XLM declined over the past 24 hours. HYPE, LTC, HBAR, TAO, and CC also traded lower. On the upside, RAIN and ICP led gains among larger-cap altcoins, while HASH stood out with a notable 20% surge.
Overall, the total cryptocurrency market capitalization increased by approximately $40 billion overnight, reaching $3.37 trillion.
